(Reuters) – British advertising group M&C Saatchi on Thursday projected its like-for-like (LFL) sales to drop this year, citing a softer second quarter as clients deferred spending amid an uncertain macroeconomic backdrop, particularly in Australia.
The company expects its like-for-like sales to decline to mid-single digits for the year ending December 31, with annual profit roughly in line with last year.
Analysts expected the company’s operating profit to increase to 37.6 million pounds ($51.12 million) for 2025, according to a company-compiled consensus.
For the six-month period ended June 30, the company’s LFL operating profit slumped 36% to 10.3 million pounds year-over-year, pressured by heavy investments in the first quarter and a drop in revenue.
($1 = 0.7355 pounds)
(Reporting by DhanushVignesh Babu in Bengaluru; Editing by Harikrishnan Nair and Sherry Jacob-Phillips)
